The New Nation - Internet Edition

THE police in Bangladesh are barely able to cope with the situation in respect of financial offences which are clearly on the rise like never before. They are found under equipped in training and specialised knowledge to investigate well the financial offences. Some such offences are simple in nature. But even these require training and aptitude of a special kind that most police personnel at the moment do not have. Other such crimes are complex in nature and clearly call for specialist knowledge and training which are simply beyond the knowledge and training base of police officials in the country.

A move has started under the government to get back the resources that a nexus of corrupt elements have illegally transferred abroad. This is a commendable endeavour. But its success will depend entirely on the capacities of our law enforcing agencies. They will have to prove through very effective investigations to authorities in foreign countries that the resources stashed away in those countries actually were illegally smuggled out. Till this is done and done meticulously well, Bangladesh will not be able to make a claim on such resources to finally get them back.

The acquiring of capacities to investigate financial crimes is also important in the backdrop of the country's growing economy. Investment activities leading to economic growth are helped by many factors and proper enforcement of the laws relating to financial litigation so that aggrieved parties get quick redress is a chief one among them. Substantial upgradation of the abilities of the police and specialised organisations, mainly the Anti-Corruption Commission (ACC), to investigate financial offences is needed most. Dealing with financial offences effectively also calls for much improved institutional vigilance. Banks and other financial institutions need to streamline their operating systems so that none can take a free ride on their resources.